Bison Trails Report Highlights Global Move Toward CBDCs

The potential launch of private cryptocurrencies has served to motivate central banks around the world to develop their own central bank digital currencies (CBDCs). In fact, a recent report from Bison Trails (a blockchain infrastructure platform) indicates that 80% of central banks are currently exploring use cases involving CBDCs, with 40% already testing proof-of-concept programs. This shows a clear trend that CBDCs are moving toward global implementation.

Presently, China appears to be the front-runner for launching the world’s first CBDC. The People’s Bank of China (China’s central bank) is currently testing its digital yuan with commercial institutions and the public.